American Bitcoin reactivates Drumheller site with 42 MW of mining infrastructure and 11,298 new rigs

A Bitcoin mining site in Drumheller, Alberta, that went dark in March 2024 is humming again. American Bitcoin Corp., the Hut 8 subsidiary that trades on Nasdaq under the ticker ABTC, announced on April 22 that it energized roughly 11,298 new ASIC miners at the facility, adding approximately 3.05 exahashes per second of computing power at an efficiency of around 13.5 joules per terahash. The Drumheller site has capacity of up to 42 MW. Two years ago, elevated energy costs and grid voltage problems made running it untenable. Now it’s back, stocked with newer, more efficient hardware, and folded into a fleet that gives American Bitcoin some serious scale. From mothballed to meaningful When Hut 8 shut down Drumheller in early 2024, the company kept the lease. Rather than hunting for greenfield sites or negotiating new power contracts, American Bitcoin simply walked back into a facility it already controlled and plugged in better machines. The new rigs running at 13.5 J/TH represent a meaningful upgrade over the fleet’s overall average. American Bitcoin’s total operational machines now run at approximately 14.1 J/TH across roughly 58,999 active miners producing about 25.0 EH/s. The full...